Financial Commission is pleased to announce the formation of the ICO Certification Committee (ICC), which consist of a panel Fintech experts from foreign exchange and crypto currency markets, who will help drive the certification standards and protocols.
The certification is limited to the assessment by ICC of the cryptocurrency platform of the issuer being in line with the minimum set of criteria determined by the ICC, some of which may be mandatory for certification approval. Financial Commission will issue certification only when all outstanding requirements have been met by companies that apply for ICO certification, and the standards for ICO certification will continually evolve based on the stewardship from Financial Commission’s ICO Certification Committee.
Currently, ICO Certification process examines hundreds of important points across key categories including the following:
- Legal and Domicile:
- Potential Regulatory Compliance:
- Suitability of the Industry and Products for an ICO:
- Reason for Crypto financing vs traditional funding
- Ability of the Issuer’s Technology to Reflect Changes in Capitalisation:
- Project Funding and Security:
- Smart Contract Design and Blockchain Network Used:
- Token Specification:
- ICO Details:
- Third-party Products/Solutions used to support offering:
- ICO Communications:
- Company Website/ ICO Website
- Funding Security
Financial Commission does not endorse or condone any ICOs as part of our ICO certification process. The certification process only establishes a minimum baseline of criteria that we determine firms must meet to obtain certification and must not be construed as an indication of suitability or recommendation. Please read our ICO Certification Disclaimer to learn more.